126 / 222
ISIN BE0003593044
2014
2013
2012
Share price (in €)
Highest
97.83
93.50
95.00
Lowest
84.74
82.23
83.38
At close
95.97
89.75
89.60
Average
89.76
88.26
88.40
Dividend yield
1
6.7%
7.4%
7.4%
Gross return
2
(over 12 months)
14.3%
7.5%
6.0%
Dividend
3
(in€)
Gross
5.50
4
6.00
6.50
Net
4.13
4
4.50
4.88
Volume
Average daily volume
33,883
37,975
33,584
Annual volume
8,844,025
9,911,464
8,765,448
Number of shares entitled to share
in the consolidated results of the financial year
17,339,423 16,954,002 16,007,572
Market capitalisation at the end of the period (x €1,000)
1,664,064
1,521,570
1,470,688
Free float zone
5
90%
90%
90%
Velocity
5
49.0%
58.5%
53.4%
Adjusted velocity
5
56.7%
65.0%
57.2%
Pay-out ratio
6
82.1%
88.5%
85.4%
Shareholder/investor profile
Cofinimmo has a large number of investors with diversified
profiles, comprised, on the one hand, of retail investors, based
mainly in Belgium, and, on the other hand, of institutional inves-
tors spread namely over Belgium, France, Germany, Luxembourg,
the Netherlands, Switzerland, the United Kingdom and the United
States.
At 31.12.2014, no shareholder crossed the threshold of 5% which
requests a transparency declaration.
Cofinimmo share liquidity
In 2014, Cofinimmo continued its efforts to enhance the liquid-
ity of its share. The company participated in 30 roadshows and
conferences throughout the year. It also invested in promotional
campaigns aimed at both institutional and retails investors.
With a market capitalisation of its ordinary shares standing at
€1.66 billion and an average daily volume of €3.0 million or just over
34,000 shares, Cofinimmo’s liquidity level is sufficient to keep it on
the radar screen of major institutional investors.
Dividend
At the Ordinary General Shareholders’ Meeting of 13.05.2015, the
Board of Directors will offer a dividend in line with the forecast
published in the 2013 Annual Financial Report. It amounts to
€5.50 gross per ordinary share, which corresponds to a gross
yield of 6.1% against the average share price of the ordinary share
during the financial year 2014. In accordance with the Articles of
Association of the company, the dividend of the preference shares,
on the other hand, is fixed at €6.37 gross (see also the chapter
“Standing document” of this Annual Financial Report).
Withholding tax
Since 01.01.2013, the applicable withholding tax on distributed
dividends amounts to 25%.
The Belgian Law provides for exemptions that the beneficiaries
of the dividends can rely on depending on their status and the
conditions that must be met to benefit from them. Moreover, the
agreements to prevent double taxation provide for reductions of the
withholding tax on dividends.
1
Gross dividend distributed in 2014 on the average annual share price.
2
Appreciation of the share price + dividend yield.
3
Dividends are subject to a 25% withholding tax.
4
Forecast.
5
According to the Euronext method.
6
In the net current result - Group share, excluding IAS 39 impact.
COFINIMMO IN THE STOCK MARKET /
The ordinary share
In 2014, Cofinimmo celebrated the 20th anniversary of
its listing on the stock exchange.
122